SouthState Bank Corporation (SSB) to Issue Quarterly Dividend of $0.60 on February 13th

SouthState Bank Corporation (NYSE:SSB) announced a quarterly dividend on Wednesday, January 21st. Stockholders of record on Friday, February 6th will be paid a dividend of 0.60 per share on Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 6th.

SouthState Bank has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 13 years.

SouthState Bank Trading Up 1.0%

Shares of NYSE:SSB traded up $1.02 during midday trading on Friday, hitting $101.58. 1,162,826 shares of the stock were exchanged, compared to its average volume of 668,888. SouthState Bank has a twelve month low of $77.74 and a twelve month high of $109.64. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $94.05. The company has a market capitalization of $10.21 billion, a PE ratio of 14.00 and a beta of 0.74.

SouthState Bank (NYSE:SSB) last announced its earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.17. The company had revenue of $686.87 million during the quarter, compared to analysts’ expectations of $667.88 million. SouthState Bank had a net margin of 20.25% and a return on equity of 10.70%. During the same quarter in the previous year, the business posted $1.93 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SouthState Bank in a research note on Monday, December 29th. Stephens reduced their target price on SouthState Bank from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 27th. Citigroup dropped their price target on SouthState Bank from $117.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, October 27th. TD Cowen reduced their price objective on SouthState Bank from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Finally, Raymond James Financial boosted their target price on SouthState Bank from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.07.

SouthState Bank Company Profile

SouthState Bank (NYSE: SSB) is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.